Paysafe, a specialist payments network provider, has extended its relationship with PointsBet, a multinational sportsbook company that just launched an online sports betting brand in Michigan.
PointsBet, which also uses Paysafe’s payment processing services in five other controlled US states, also includes Michigan in its list of sponsored markets.
After gaining clearance from the New Jersey Division of Gaming Enforcement (DGE) and working with the state’s Meadowlands Racetrack in East Rutherford, PointsBet made its US debut in 2019.
In addition to standard fixed odds wagering, the sportsbook company provides innovative services such as a spread betting model called “PointsBetting” as a result of its technological infrastructure.
Colorado, Illinois, Indiana, Iowa, Michigan, and New Jersey are the six states where the company is currently operational. Many of these territories are protected by the operator’s Paysafe partnership.
Customers in Michigan can now deposit funds using credit and debit cards processed through Paysafe’s payment network, as well as ACH bank transactions from checking and savings accounts, thanks to PointsBet’s new integration with Paysafe. Similar deposit options are also available in the sportsbook’s other five states of operation.
Paysafe will also broaden its position in the US igaming market, where it has confirmed several recent collaborations and is focusing on long-term growth as more states control the sector.
According to the regulator, Michigan is the most recent of these states, having opened its online market on January 22 after gaining permission from its Gaming Control Board, and taking in $115.2 million in online wagers in its first ten days.
Paysafe’s Director of Business Development for iGaming, Gregory Kirstein, said: “With its innovative mindset and dedication to providing a high quality sports-betting experience, PointsBet has established a frontrunner status in the rapidly expanding US igaming market.
“We look forward to building on an already fruitful relationship by supporting the Michigan launch through our payment processing services, which streamline the customer payments journey and drive long-term loyalty.”